INDEPENDENT NEWS

Restaurant Brands signs Pizza Hut master franchise deal

Published: Wed 13 Jun 2018 12:50 PM
Restaurant Brands signs Pizza Hut master franchise deal with Yum! for NZ market
By Tina Morrison
June 13 (BusinessDesk) - Restaurant Brands New Zealand has inked a master franchise agreement with Yum! Brands for the continued operation of the Pizza Hut brand in New Zealand.
The 10-year agreement will see Restaurant Brands responsible for day-to-day administration of the Pizza Hut brand in New Zealand, supporting existing independent franchisee-owned stores and developing new outlets. The local firm will continue to run marketing and operations for the brand in New Zealand and will step into the position of franchisor to existing independent franchisees, and provide development support to new franchisees.
The new deal, which Restaurant Brands had previously flagged, will see it receive a portion of the franchise fees payable by independent franchisees to Yum!
Louisville, Kentucky-based Yum! Brands owns the Pizza Hut, KFC and Taco Bell brands and is the world's largest fast-food restaurant company. In New Zealand, Restaurant Brands is the country's largest fast-food operator with the KFC, Pizza Hut, Starbucks Coffee and Carl's Jr brands. In recent years it has been selling its regional and lower volume Pizza Hut stores to independent franchisees and at the end of the company's first quarter it owned 33 Pizza Hut stores in New Zealand, with 65 operated by independent franchisees, bringing the total network to 98 stores.
The company's shares last traded at $7.97, and have increased in value by a third over the past year.
(BusinessDesk)
ends
BusinessDesk
Independent, Trustworthy New Zealand Business News
The Wellington-based BusinessDesk team provides a daily news feed for a serious business audience.
Contact BusinessDesk
Email:

Next in Business, Science, and Tech

New GST rules to level playing field
By: New Zealand Government
PM’s Business Advisory Council membership announced
By: New Zealand Government
Report shows New Zealand air quality is good
By: Statistics New Zealand
Govt backtracks on climate action, grants drill extension
By: Greenpeace New Zealand
Recommendations for screen sector workplace relations
By: Film Industry Working Group
DOC closing tracks to protect kauri
By: New Zealand Government
Govt raises GST threshold for online shopping
By: BusinessDesk
Foreign Website Gst Confirmation Welcomed
By: Retail NZ
Trade Me supports government’s move to collect GST
By: Trade Me Limited
GST changes will help many consumers
By: New Zealand Taxpayers' Union
Small firms say dealing with Govt ‘a nightmare’
By: New Zealand National Party
Minister welcomes major ‘air’ report
By: New Zealand Government
NZ heading for gas supply gap - OMV
By: BusinessDesk
Focus on 'low-hanging fruit' for emissions reduction
By: BusinessDesk
EPA grants OMV marine discharge application
By: Environmental Protection Authority
View as: DESKTOP | MOBILEWe're in BETA! Send Feedback © Scoop Media